Paul Liberman Sells 88,441 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 88,441 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $36.41, for a total value of $3,220,136.81. Following the completion of the sale, the insider now owns 1,923,483 shares in the company, valued at approximately $70,034,016.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Paul Liberman also recently made the following trade(s):

• On Wednesday, September 25th, Paul Liberman sold 643,654 shares of DraftKings stock. The stock was sold at an average price of $41.24, for a total value of $26,544,290.96.
• On Monday, August 26th, Paul Liberman sold 88,441 shares of DraftKings stock. The shares were sold at an average price of $35.64, for a total transaction of $3,152,037.24.

DraftKings Stock Down 0.8 %

DKNG stock opened at $36.47 on Monday. The company has a market capitalization of $31.70 billion, a price-to-earnings ratio of -30.91 and a beta of 1.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $37.24 and its two-hundred day moving average price is $38.29. DraftKings Inc. has a fifty-two week low of $25.73 and a fifty-two week high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. As a group, analysts forecast that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of DraftKings in a research note on Monday, October 7th. Morgan Stanley increased their target price on DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Macquarie reiterated an “outperform” rating and issued a $50.00 price target on shares of DraftKings in a research report on Monday, August 26th. Barclays increased their price objective on DraftKings from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, Oppenheimer decreased their price target on DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and an average price target of $50.22.

Institutional Investors Weigh In On DraftKings

Hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in shares of DraftKings during the second quarter valued at approximately $1,530,000. Romano Brothers AND Company purchased a new position in shares of DraftKings in the 3rd quarter worth about $1,181,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in DraftKings by 63.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,979 shares of the company’s stock worth $3,129,000 after purchasing an additional 31,880 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in DraftKings by 14.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,400,331 shares of the company’s stock valued at $94,093,000 after purchasing an additional 298,365 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in DraftKings during the 1st quarter valued at about $31,000. Institutional investors own 37.70% of the company’s stock.

About DraftKings

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.